world oil supply

[Alice In TX/MO]

Interesting article from the perspective of a major oil company. They do a good job of stating that ALL avenues need to be explored.

http://www.exxonmobilperspectives.co...ng-out-of-oil/

Small quote:

Is the world running out of oil? No. Not even close.

However, the world’s remaining petroleum reserves do require more complex technologies, and higher levels of investment, than they did a generation ago.

[Wolf mom]

http://comments.americanthinker.com/read/1/767920.html

Major oil driling company filing for bankruptcy due to Obama's executive orders.

This in addition to the OP post may make one stop and think....

[ninny]

Well, Obama did say that under his plan that energy costs would "skyrocket." I guess he's just keeping his word, one of the few times that he has actually done that.

.

[rickfrosty]

[/B]However, the world’s remaining petroleum reserves do require more complex technologies, and higher levels of investment, than they did a generation ago.[/QUOTE][/B]

The brunt of the oil remaining in the ground will be FAR more expensive to extract and this will have an extreme influence on life as we will soon know it ! Way too many of the parts of modern life as we know it result from easy access to CHEAP petroleum products - fertilizer to name one.
We cannot continue to feed the amount of people now sharing the earth with less fertilizer, less diesel. Population has ballooned BECAUSE of cheap petroleum products used in 'the green revolution'.
James Howard Kunstler's book "The Long Emergency" is a great read covering life as we will soon know it.

[Jena]

Look at the extreme costs of the Horizon rig, since there is lots of info out there on it. They wouldn't have drilled that hole before because it was too expensive and didn't need to be done. As oil gets harder to find and extract, prices are going to have to have to go up. I think we'd already be in more of a bind, except the slow down of the economy helped slow the demand in China and India.

The President of my University was an oil man. Guess why he is now President of a University? He knows the days are numbered...

[Old Vet]

Since all the oil has been discovered and there is no more you need to remember that it takes more to get it out. I have heard this for the last 50 years but it is not true. There is more oil left than has been pumped out so far. Where will oil be discovered no body knows but it is their.

[Alice In TX/MO]

Not all the oil has been discovered. Hubby's a petroleum engineer, and he's been involved in a couple of discoveries the last few years.

[bourbonred]

New drilling techniques being used in North Dakota are supposed to be causing an oil boom there. Just started reading on that today after a mention by R.Limbaugh.

[Alice In TX/MO]

North Dakota:
http://online.wsj.com/article/SB1000...googlenews_wsj

[georger]

But no matter how many new discoveries are found, eventually you'll still have to come face to face with the weakness - we depend on too much oil.

Our way of life, our cities, towns, our modes of business all have been designed around the convenience of the automobile.

This all got started in the 1930s in the US when automotive interests started to buy up and dismantle light rail systems so people would have to buy automobiles and thus become dependent upon them. This is all of our Achilles' heel and it's a major one.

Merely prolonging the dependency on oil does absolutely nothing to educate people to rely on oil less, does nothing to encourage sensible development of better transportation networks independent of oil, nor put any pressure on leaders to even begin to resolve this basic root issue.

[FourDeuce]

The problem isn't the amount of oil(however much is there). The problem comes in when you start "spending" more to retrieve one barrel of oil than the energy that barrel of oil produces. When you do that, you are in a losing game. It's like a government spending more money than it takes in. Most people recognize that's a losing proposition, but nobody wants to face the same thing about oil drilling.

[Dwayne Barry]

Originally Posted by FourDeuce

The problem isn't the amount of oil(however much is there). The problem comes in when you start "spending" more to retrieve one barrel of oil than the energy that barrel of oil produces.

In the big picture of human history, the fact that we've really only been using oil heavily for about a century and there are more and more of us wanting a slice of that pie everyday, the very fact that we're already even talking about the limitations of the world's oil supply should be a cause for concern.

Maybe not a concern for my parents, probably going to significantly affect my life in old age, almost certainly will impact the lives of my children.

[Beeman]

Intersting article, but all that most will come away with is that there's plenty of oil so there's no problem.

We've only gone drunk on oil, when I say we I refer to mankind, for a short period of time. Yet since that time we are now actually worried and measuring how much oil there is. We're also starting to realize that burning it comes with consequences we never really wanted to face.

It's not about money,profit or lifestyles. It's not about whether the earth will survive, it's about whether mankind will survive.